Euro-Zone, US News Set to Impact Markets Today
After hitting a seven-week high against the US dollar earlier in the week, the euro took moderate losses against several of its main currency rivals during the first part of the day yesterday.
Category: Daily Forex Reports
AUD/USD: technical analysis – August 22, 2012
The aussie has broken down through a major trend-line and then recovered. There is a strong possibility the up-trend will resume and return to the 1.0610 highs as the final fifth wave higher unfolds – a move...
EUR/USD: bullish continuation
The EUR/USD pair has pulled back and re-tested the neckline of the inverted H&S at 1.2440 and it will probably continue its rally from here, targeting 1.2550 first, which is the top of the channel, and then...
Speculation Regarding ECB Action Sends EUR Higher
Speculations among investors regarding possible future action to lower borrowing costs in Spain and Italy yesterday caused the euro to spike against several of its main currency rivals. Today, traders will want to pay attention to several...
EUR/USD Forecast August 22, 2012, Technical Analysis
The EUR/USD pair had a very bullish session on Tuesday as more signs of hope entered the marketplace. However, hope typically gets squashed by someone in Europe, and we feel it is only a matter of time...
USD/JPY Forecast August 22, 2012, Technical Analysis
The USD/JPY pair initially had a bullish session on Tuesday, but gave up quite a bit of the gains as the market churned within the 79-80 resistance zone. The area looks ripe for a pullback, and this...
GBP/USD Forecast August 22, 2012, Technical Analysis
The GBP/USD pair had an extraordinary day on Tuesday as it finally broke above the recent resistance level. However, the market is resistive all the way to the 1.58 handle, and we did not manage to close...
AUD/USD Forecast August 22, 2012, Technical Analysis
The AUD/USD pair had a bullish session during the Tuesday trading hours, but did manage to fail at the 1.05 level again. This is odd as it was an area that caused massive resistance almost 3 weeks...
USD/CAD Forecast August 22, 2012, Technical Analysis
The USD/CAD pair fell below the recent lows on Tuesday, but bounced in order to form a hammer just below the 0.99 level. This pair does look like it’s ready for a bounce of sorts, and we...
EUR/USD: climbing bullishly
Eurodollar has broken above the 1.2385 highs and will probably now run all the way up to the 1.2440 level, although there may be a short pull-back to the support line at 1.2380 first. It is possible...